Commencement of £2.3m Australian Government Grant

Gelion plc ("Gelion" or the "Company"), the global energy storage innovator, is pleased to announce the commencement of the Australian Renewable Energy Agency ("ARENA") AUD $4.8 million (c. £2.3 million[1]) grant for its Advanced Commercial Prototyping Centre Project ("ACPC") in Sydney, starting on 9 July 2025.

The ARENA grant, matched by Gelion, supports capital and operational expenditure over three years, totalling AUD $9.6 million (c. £4.6 million1), to advance the Company's sulfur battery technology and marks a significant milestone in its product commercialisation roadmap. The project will require an initial capex investment of c.£300k (50% capex funded by the grant), and with the necessary facility and team already in place (50% opex funded by the grant), Gelion is ready to begin the project immediately.

Consistent with focus gained from our market facing activities including the material testing agreement with a tier-one battery manufacturer signed in April this year, Gelion will prioritise the scale up of Sulfur Cathode Active Materials (CAM), followed by expansion of cell prototyping facilities.

The ACPC will enable Gelion to:

• Scale production of Sulfur CAM;
• Produce and optimise next generation Lithium Sulfur (Li-S) and Silicon Sulfur (Si-S) batteries; and
• Facilitate testing and validation with existing and prospective global partners and customers.

The ARENA funding recognises the importance of Gelion's sulfur-based battery technology as a potential enabler of the global energy transition. It builds on Gelion's recent commercial and technical progress, including:

• The Materials Testing Agreement with a Tier One battery manufacturer;
• A strategic collaboration with the Max Planck Institute (Germany); and
• Strong early performance data demonstrating superior power capability, outstanding longevity, and high energy density, key metrics required for commercial success.

Gelion CEO John Wood said: "We are very grateful to ARENA and the Australian government for this critical support for prototyping capabilities associated with the commercial progression of our Sulfur Battery technologies.

"With the acquisition of the Oxis technology portfolio from Johnson Matthey, the acquisition of OXLiD in the UK, and the most recent collaboration agreement with the Max Planck Institute of Colloids and Interfaces, Gelion is now well-positioned to progress with the ACPC project with its goals to produce and optimise our next generation Lithium Sulfur (Li-S) and Silicon Sulfur (Si-S) battery technologies and our readiness to provide these for test and validation by prospective global partners and customers. This is an essential next step toward accelerating global presence and growth."

Gelion's lightweight sulfur batteries are particularly suited to high-growth sectors such as electric aviation, electric vehicles, and specific stationary energy storage applications, including remote power supply.

The Board believes that the commencement of the ACPC with ARENA's funding support, along with recent progress, firmly establishes Gelion as a leader in the development and commercialisation of next-generation sulfur battery technologies.

Sulfur Batteries

Glossary

[1] The movement in foreign exchange rates has led to a change in the reported grant amount. However, since both the grant funding and the project expenditure are in AUD, this has no material financial impact other than for reporting purposes.